Gold Posts Largest Weekly Gain in Three Months

Gold and silver fell and miners tumbled

Gold slipped modestly in Friday trading, but still ended the week up 4%, the metal’s best weekly showing in three months. Gold rose early in the trading session after the government reported that the U.S. economy expanded at a slower rate than Wall Street had expected during the first quarter, but fell as profit-takers moved in.

Gold futures for May delivery declined 0.6% to $1,453.60 per ounce on Friday, according to CME Group. Gold traded as high as $1,483.90 and as low as $1,448. Gold bullion closed in London at $1,461, according to BullionVault.